Christoph Brand takes over as new CEO of Axpo on 1 May

Christoph Brand (50) takes up his new position as the new CEO of Axpo Holding AG on 1 May. He succeeds Chairman Thomas Sieber, who has been in charge of the interim operative management of the company since October 2019.

Beznau nuclear power plant: Start of the annual revision of Unit 1

Today, the Beznau nuclear power plant (KKB) is taking Unit 1 off the grid for just over a month as planned for inspection work and for the replacement of fuel elements. This marks the end of an op-erating cycle of just over 300 days.

Axpo expects half-year results for 2019/20 to be significantly lower than last year

Axpo to build solar plants for Paris airports

By 2021, Axpo's subsidiary Urbasolar will build three solar plants in France to produce solar
power for the Paris airports. The plants will cover around 10 percent of the electricity needed by the airports Charles de Gaulle, Orly and Le Bourget.

Axpo takes over power marketing of Global Tech I offshore wind farm

Axpo continues to expand its business in the direct marketing of electricity from renewable energies in Germany: Axpo's German subsidiary has been responsible for the overall marketing of the Global Tech I (GT I) wind farm in the North Sea since the beginning of 2020. Axpo Deutschland was awarded the contract at the end of 2019.

Axpo supplies Sunrise with electricity from hydro-power

Since the beginning of 2020, the largest private telecommunications provider in Switzerland relies on hydropower: Axpo has concluded a full supply contract with Sunrise. The agreement includes the supply of electricity from the Axpo hydropower plants to all the Sunrise locations in Switzerland.

Axpo is further expanding its business in the UK market: The company’s subsidiary in London and So Energy, a challenger supplier to the UK domestic market, have today announced a three-year energy supply and trading deal.

Annual General Meeting Axpo Holding AG – shareholders waive dividend

The 19th Annual General Meeting of Axpo Holding AG on 17 January 2020 has approved the annual report and the annual financial statements for 2018/19, and agreed on all other motions. The shareholders waived their dividend again.

Axpo signs deal for energy supply and market access with Valda Energy

Axpo’s subsidiary in London and Valda Energy, a new energy supplier to the UK SME business market, have just announced a three-year deal for energy supply. Thus, Axpo further strengthens its position in the UK energy market.

Today, the Board of Directors of Kraftwerke Linth-Limmern AG (KLL) approved the 2018/19 annual financial statement prepared for the Annual General Meeting to be held on 19 March 2020. KLL's energy production to Axpo and the Canton of Glarus increased to 1.49 billion kWh in financial year 2018/19 (previous year 1.38 billion kWh). Annual costs increased in parallel.

Aarekraftwerk Klingnau AG: Less water, less electricity

Today, the Board of Directors of Aarekraftwerk Klingnau AG (AKA) approved the 2018/19 annual financial statement prepared for the Annual General Meeting to be held on 13 March 2020. In financial year 2018/19, AKA's energy production to partners amounted to 186 GWh, which was slightly lower as compared to the previous year owing to below-average water flow in the Aare River. Annual costs also decreased in parallel.

Axpo significantly increased its operating result – success in trading and renewables

Axpo posted a strong operating result for the 2018/19 financial year. Earnings before interest and tax (EBIT) before one-off effects were up 56% to CHF 542 million, or CHF 850 million after one-off effects (previous year: CHF 348 million). Axpo raised the result for the period from CHF 131 million to CHF 865 million. The strategy of networking production, trading business and international customer business has paid off, even in a difficult market environment, with all Axpo Group business areas achieving pleasing operating results.

Axpo plans first large-scale, alpine solar plant in Switzerland

Axpo plans to install the first large-scale, alpine solar plant in Switzerland on the Muttsee dam at the Limmern pumped storage plant. With the 2-megawatt pioneer project, Axpo is driving forward the expansion of renewable energies in Switzerland. The plant will generate about half of its power production during the winter – when there is generally a power shortage.

Axpo signs long-term PPA for two wind farms in Finland

Axpo is further expanding its business in the field of long-term power purchase agreements (PPA) for renewable energies in the Nordic region: The company’s subsidiaries Axpo Nordic AS and Axpo Finland Oy have agreed to buy the full output generated by the 30 MW Kröpuln and the 30 MW Storbacken wind farms currently under construction in Finland’s Ostrobothnia region. After having signed several long-term PPAs in Sweden in the past months, this PPA is a major step for the company’s business in Finland.

Axpo subsidiary Volkswind inaugurates wind farm in France

Axpo, Switzerland's largest producer of renewable energy, is continuing to develop its wind power portfolio. Axpo subsidiary Volkswind has commissioned a 16-megawatt wind farm in Antezant-la-Chapelle, Western France.

Joining forces to enhance power supply for the Glarus region

Axpo, SN Energie and tb.glarus are modernising the grid infrastructure in the Canton of Glarus. Jointly defined measures will sustainably enhance power supply to residents and businesses in the region of Glarus-Schwanden taking environmental aspects into account.

Axpo Deutschland is expanding its business activities in the natural gas area: As per 1 September 2019, the Axpo subsidiary took over an extensive portfolio of major natural gas customers. The seller is the German sales office of the French company Gas Natural Europe, which is part of the Naturgy Group.

"Wir von der Insel" – the book on the occasion of the Beznau 50-year anniversary

The Beznau nuclear power plant (KKB) took up operation five decades ago. This marked the beginning of half a century of climate-friendly power production and an important part of Swiss industrial and technological history. The initial euphoria about using the new technology was huge, but soon a wave of criticism washed over the nuclear power plant. Axpo has published a book on the occasion of the Beznau 50-year anniversary. "Wir von der Insel" tells the story of the three generations that worked and still work at Beznau with a strong commitment.

Christoph Brand appointed new Axpo CEO

Christoph Brand (50, Swiss) will become the new CEO of Axpo Holding AG. Brand, who is currently the Deputy CEO of Tamedia AG, was appointed as the new CEO by the Axpo Holding AG Board of Directors. He will begin his new position by the summer of 2020 at the latest. Brand succeeds Andrew Walo (55) who, as communicated in June, is leaving Axpo. As of 1 October, Chairman Thomas Sieber will take over the operative management of the group ad interim for the transitional period until the appointment of the new CEO as the Delegate of the Board of Directors.

Axpo to market Canton of Glarus KLL energy share

The Canton of Glarus and Axpo have come to an agreement on how to implement the court settlement concerning the Limmern pumped storage plant. Among other things, the agreement specifies that the Axpo subsidiary Axpo Solutions AG will market the Canton of Glarus' energy share from its participation in Kraftwerke Linth-Limmern (KLL) until at least 31 December 2021.

Axpo recognizes an impairment reversal

Axpo regularly reviews the carrying amount of its production facilities and energy procurement contracts. The rise of European wholesale power prices in comparison to our previous assumptions as well as the respective forward prices for the upcoming three years indicate that the phase of record-low power prices is likely over.

Line conversion in the Schaffhausen and Klettgau (Germany) area

Axpo is gradually converting its regional distribution grid from 50 kV to 110 kV. Reconstruction work on the line between the Eglisau substation and Wilchingen is necessary to accommodate the higher operating voltage. The regions of Schaffhausen and Klettgau (Germany) will benefit from a powerful grid and reliable power supply.

Kraftwerke Linth-Limmern AG: extraordinary general meeting

At the request of its shareholders, Kraftwerke Linth-Limmern AG is calling an extraordinary general meeting to be held on 30 September 2019. This is due to amendments to the Articles of Association that became necessary after the settlement between the two KLL shareholders.

Misoxer Kraftwerke: Preventive renovation of the Isola dam

Preventative renovation will be carried out on the Isola dam belonging to the Misoxer Kraftwerke (Canton of Grisons) this winter. In order to relieve the stresses on the inner dam wall that occurred through concrete swelling a cut will be made in the dam wall. This is a globally proven method. The work is expected to be completed next spring. The safety of the dam is ensured at all times.

Axpo sells four wind farms to EB Erneuerbare Energien Fonds Europa

Axpo continues to consistently implement its strategy goal to realise higher earnings from the renewable energies business: Four newly developed wind farms from the extensive portfolio belonging to the subsidiary Volkswind GmbH in France will become the property of EB Erneuerbare Energien Fonds Europa. In addition, the purchase agreement stipulates that Volkswind will continue to be responsible for operational management of these wind farms in the future.

Beznau nuclear power plant: Scheduled outage of Unit 2

The Beznau nuclear power plant (KKB) will take Unit 2 off grid as scheduled tomorrow, 10 August 2019, in order to perform inspection work and refuelling. The work will take about 40 days. This marks the end of a malfunction-free operating cycle of about 400 days, which began on 9 July 2018.

Beznau nuclear power plant: Unit 1 back on line

Unit 1 of the Beznau nuclear power plant (KKB) was resynchronised with the grid around midday and electricity production was resumed. Last night, a fault in the Beznau substation - probably due to lightning strike - triggered a rapid shutdown of unit 1. The system reacted as designed. The safety of the employees and the population was guaranteed at all times.

Axpo implements PPA in the German solar market for the first time

Axpo Deutschland, Axpo's subsidiary for the German market, has concluded a long-term power purchase agreement (PPA) for solar power without any state subsidies for the first time. It is one of the very first PPAs in the German solar market.

Axpo finalises take-over of the PV company Urbasolar

Axpo has received approval from the respective authorities for the definitive acquisition of the French photovoltaics company Urbasolar. The transaction will make Axpo an important market player in the development and construction of solar plants in France and Europe.

CEO Andrew Walo to leave Axpo – succession process initiated

Andrew Walo (56), who has been the Chief Executive Officer of Axpo Holding AG since 2014, has decided to leave Axpo by the end of the year at the latest in order to pursue new plans. The Board of Directors has initiated the succession process.

Axpo concludes another long-term PPA for a wind farm in Sweden

After having signed a couple of long-term power purchase agreements (PPA) for Swedish wind farms in the past months with several international renewable energy investment companies, Axpo’s subsidiary in the Nordic markets has agreed to buy the output generated by the 43 MW Hornamoss-en wind farm which will soon be under construction in Sweden’s Jönköping municipality. The respective long-term PPA was signed with the UK-based Green Investment Group. Thus, Axpo under-pins its role as one of the leading marketers of power from renewable energies in the Nordics.

Axpo increases earnings before interest and tax, profitable international business

The Axpo Group achieved a gratifying result in the first half of the 2018/19 financial year. The good operating performance in the reporting period (1 October 2018 to 31 March 2019) was primarily attributable to higher electricity production, international activities and ongoing cost discipline. The planned takeover of French photovoltaic company Urbasolar means that Axpo is strengthening its exposure to renewable energies and will be obtaining a platform for further growth in the international solar business.

Beznau nuclear power plant: Unit 1 back on grid after scheduled outage

Scheduled maintenance work on Unit 1 of the Beznau nuclear power plant (KKB) has been completed and the plant went back on grid this evening after approval by the Federal Nuclear Safety Inspectorate (ENSI).

Axpo and CKW expanding battery storage business

Together Axpo Grids and CKW offer comprehensive large-scale battery solutions including planning, installation and energy market integration. A battery storage system with a capacity of 2 MW will now be realised at Elektrizitätswerk Jona-Rapperswil AG (EWJR) in cooperation with Axpo Grids and CKW. The installation will contribute to grid stability.

Axpo has achieved another milestone at the Limmern pumped storage plant: In June, the new aerial cableway between Linthal-Tierfehd and Kalktrittli will go into operation running on the track formerly used by the dismantled construction cableway 1. The passenger cableway is equipped with the latest technology enabling unmanned operation and monitoring from the power plant control centre.

Approval granted for underground cabling between Horgen and Wädenswil

The Federal Inspectorate for Heavy Current Installations (ESTI) has granted Axpo the planning authorisation for the power line section between Horgen and the Wädenswil (ZH) substation. No complaints opposing the submitted planning proposal were filed during the authorisation process. Construction is scheduled to begin in June 2019.

Beznau nuclear power plant: Scheduled outage of Unit 1

The Beznau nuclear power plant (KKB) will take Unit 1 off grid as scheduled today, 3 May 2019, in order to perform inspection work and refuelling. This marks the end of a malfunction-free operating cycle of about 400 days.

Axpo acquires Urbasolar and launches growth initiative in the solar energy business

Axpo is entering into the international solar business and, on 30 April 2019, signed a contract for the acquisition of the French photovoltaics company Urbasolar. In doing so, Axpo continues to consistently pursue a strategy for profitable growth in the international business. After successfully developing the wind business with the subsidiary Volkswind, Axpo intends to take advantage of synergies in the economically attractive photovoltaics market. Urbasolar will be managed as an independent company. The company will serve as a platform to expand the solar business in Europe.

Axpo and the German investment firm Aquila Capital ink long-term PPA for two wind farms in Sweden

Axpo is further expanding its business in the field of long-term power purchase agreements (PPA) for renewable energies in the Nordic region: The company’s subsidiary Axpo Nordic AS has agreed to buy the full output generated by the 68,4 MW Nylandsbergen wind farm and the 64,8 MW Högkölen wind farm in Northern Sweden. Both plants are owned by Aquila Capital, a Hamburg-based alternative investment company focusing on renewable energy investments in the Nordics. In addition to the long term power hedging contract, Axpo will grant Aquila Capital market access for the sale of the corresponding electricity certificates and GoO (Guarantees of Origin).

Axpo to purchase French photovoltaic company

In the course of its targeted growth strategy, Axpo has entered into exclusive purchase negotiations with the owners of the French photovoltaic company Urbasolar. With the acquisition, Axpo intends to further expand its leading position in the area of renewable energies. Urbasolar plans, constructs and sells photovoltaic systems.

Axpo Nordic AS has once again underlined its pioneering role in the field of long-term power purchase agreements (PPA): together with re:cap global investors, an internationally-oriented asset manager for renewable energy investments based in Zug/Switzerland, the North European subsidiary of Axpo signed a 10 years fixed-price power contract for an onshore wind farm in Bröcklingberget, Sweden, and secures the revenue stream for investors by means of a PPA.

Limmern PSP: Axpo and the Canton of Glarus reach settlement

Axpo and the Canton of Glarus have come to an agreement on their collaboration regarding the Limmern pumped storage plant (LPSP). The agreement was the outcome of a preparatory hearing before the Supreme Court of the Canton of Berne. The Canton of Glarus will bear 15 per cent of the annual costs for the LPSP up to its commissioning on 18 August 2017. Costs incurred after this point in time will be fully borne by Axpo because the Canton of Glarus will no longer procure power from LPSP.

The Annual General Meeting of Kraftwerke Linth-Limmern AG (KLL) approved the annual financial statement for 2017/18 and the payment of the statuary dividend in the amount of 1.5% on theshare capital of CHF 350 million. This corresponds to CHF 5.25 million.

Kraftwerke Sarganserland AG: Financial year with higher power production

The Annual General Meeting of Kraftwerke Sarganserland AG (KSL) approved the annual financial statement for 2017/18 and the payment of a statuary dividend in the amount of 1.5% on the sharecapital of CHF 50 million. As compared to the previous year, the financial year was marked by higher precipitation and increased power production.

Axpo named worldwide number 1 in power trading again – stronger focus on PPA

Axpo once again received top marks from its customers and business partners in the annual survey conducted by the trade magazines “Risk” and “Energy Risk”: In the category power trading, the company defended its first place worldwide and, as in previous years, achieved numerous top rank-ings in many countries. Moreover, Axpo was very successful in the area of gas trading. The excel-lent results confirm that the continuous expansion of the international customer and trading busi-ness is bearing fruit and has been well received by customers and partners. There is strong cus-tomer demand in the area of Power Purchase Agreements (PPA). The long-term power supply and purchase agreements are developing into a mega-trend in the area of renewable energies.

Board of Directors nominates Martin Keller

The Board of Directors of Axpo Holding AG has nominated Martin Keller, an entrepreneur and a member of parliament in the Canton of Aargau, as a new member of the board. The election will be held at the extraordinary General Meeting of Axpo Holding AG on 11 April 2019.

The Federal Council's draft for the revision of the Ordinance on the Decommissioning Fund and Waste Disposal Fund (SEFV) for Nuclear Installations currently under consultation is politically questionable and a shot in the foot in terms of energy policy. The elimination of the lump sum safety surcharge of 30 per cent is appropriate. However, Axpo opposes the arbitrary reduction of the funds' real return rate from 2 to 1.6 percent. This unnecessarily ties up significant additional financial resources and has a detrimental effect on the planned restructuring of the Swiss energy supply system.

Axpo Holding AG Board of Directors reappointed

On 18 January 2019 the 18th Ordinary General Meeting of Axpo Holding AG confirmed all the appointed members of the Board of Directors in their functions for the term from 2019 to 2021 with the exception of Rudolf Hug, who did not stand for re-election. The Annual General Meeting also ap-proved the annual report and the annual financial statements for 2017/18.

Elblox and the enviaM Group, a leading regional energy services provider in Eastern Germany, have signed a cooperation agreement for the use of the green electricity trading platform Elblox. The online marketplace was developed by Axpo for trading environmentally-friendly power from regional renewable energy sources and will be available in Eastern Germany in the second half of 2019. Consumers can put together their own individual renewable power mix digitally via the Elblox platform, which is based on block chain technology. Regional operators of solar, wind, hydropower and biomass plants have the opportunity to sell their produced electricity directly to local end customers via this online marketplace.

Today, the Board of Directors of Kraftwerke Linth-Limmern AG (KLL) approved the 2017/18 annual financial statement prepared for the Annual General Meeting to be held on 21 March 2019. KLL's energy production to partners rose to 1.38 billion kWh in financial year 2017/18 owing to high production from the Limmern pumped storage plant. Annual costs increased in parallel.

Operating result increased by 29% – profitable growth in international business

Axpo achieved a strong result in the 2017/18 financial year, with both the operating result (CHF 348 million, +29%) and cash flow from operating activities (CHF 474 million, +171%) increasing substantially compared with the previous year. This is mainly due to the strong operating performance in international business and renewable energies. However, the result in the reporting year was again weighed down by Swiss electricity production. The rise in electricity prices since 2016 will have a delayed impact on the results.

Axpo sells property in Laufenburg

Axpo has sold the former EGL building in Laufenburg (Canton of Aargau) to the Entwicklungsgesellschaft Stern Laufenburg AG (EGSL). On its own accounts, EGSL intends to use the property for the development and operation of a business incubator in the area of energy and secure communications. The parties have agreed not to disclose details regarding the sales price.

Rudolf Hug stands down from the Board of Directors of Axpo Holding AG after 16 years

Vice-Chairman Rudolf Hug (68) has informed the Board of Directors of Axpo Holding AG that he will resign at the end of the current term, i.e. at the Annual General Meeting on 18 January 2019. Hug, who has been a member of Axpo's highest steering body since 2003, wants to have more time for his own projects after 16 years. A successor to Rudolf Hug will be announced in due course.

Axpo markets green electricity from waste in the Netherlands

Success story for Axpo Netherlands BV: within the framework of a public tender procedure, Axpo’s Dutch subsidiary concluded a contract with AEB Amsterdam, one of the biggest raw materials and waste-to-energy companies in the Netherlands. The agreement with AEB includes the marketing of around 0.5 TWh of energy per annum, as well as spot market access, intraday trading, and financial forward market access. It will be in effect from 2018 to 2022.

Axpo Solutions AG: A new name for growth businesses

Since the end of September 2018, Axpo has been conducting its activities in the international customer business, foreign renewable energies, and energy trading under Axpo Solutions AG (formerly Axpo Trading AG). Axpo announced the name change back in December 2017. At the same time, targeted strategic structural adaptations are underway at Axpo Power AG.

Axpo sells four wind farms to Allianz Global Investors

The Axpo subsidiary Volkswind GmbH has sold four wind farms from its extensive portfolio in France to Allianz Global Investors. The transaction is part of Axpo's profitable growth strategy in the area of renewable energies. The construction, development, operation and sale of wind farms will continue to strengthen the profit contribution from the international business. The French wind farms will become part of the Allianz Renewable Energy Fund II (AREF II) portfolio, which is investing a total of approx. 350 million Euros in European wind and solar plants.

Joris Gröflin appointed as the new Axpo CFO

Joris Gröflin will begin as the new Chief Financial Officer (CFO) of the Axpo Group on 1 April 2019. Currently the CFO of Rieter Holding AG, he will take over from Ulrich Erkens, who has been managing the Axpo finance area temporarily.

The Axpo Group achieved a solid half-year result in operational terms, increasing its operating cash flow by CHF 95 million year on year. Although operating profit (EBIT) was down by CHF 146 million at CHF 259 million, it must be borne in mind that, in the previous year, Axpo received a non-recurring compensation payment from Swissgrid for taking over the extra-high-voltage grid. Adjusting for this exceptional factor reveals that Axpo succeeded in keeping its operating result at the previous year’s level despite lower revenues from electricity sales. The Group’s rigorous implementation of a strategy geared towards strengthening cash flow and increasing value is paying off. The recommissioning of block 1 at the Beznau nuclear power plant in March 2018 is also helping to strengthen Axpo’s profitability.

Today, the Annual General Meeting of Kraftwerke Linth-Limmern AG (KLL) approved the annual financial statement for 2016/17 and the payment of a statuary dividend of 1.5% on a share capital of CHF 350 million. This amount corresponds to CHF 5.25 million. The past financial year was marked by the successful completion of the Limmern pumped storage plant project.

Axpo named best power trader in the world

Worldwide recognition for Axpo: Number 1 nine times and once again the world's best power trading company in the annual survey conducted by the trade magazines "Risk" and "Energy Risk”. After achieving numerous top ranks in previous years, customers and business partners voted Axpo the number 1 in nine categories this year. The excellent feedback demonstrates that Axpo is the leader in many markets when it comes to customer needs such as local presence, speed and agility.

Axpo to supply Italian Unilever plants with power from its own wind farm

The Unilever Group is focusing on electricity from renewable sources: From 2018 to 2020, the company will procure the electricity for its plants in Italy from the Southern Italian wind farm WinBis, which is owned by Axpo. The conclusion of this contract marks the starting shot for the “Axpo Green Energy” programme, a new type of certification for renewable energies in Italy.

Martin Schwab, the CFO of Axpo Holding AG, will take over operative management of Centralschweizerische Kraftwerke AG (CKW) on 3 April 2018. Schwab (51) succeeds Felix Graf, who – as previously communicated – will become the CEO of the NZZ Media Group. Martin Schwab, who has been the Chief Financial Officer of Axpo Holding AG since 2011, developed and optimised Axpo's financial structure and successfully managed various strategic projects.

Non-subsidised solar plant: Axpo breaks new ground in Portugal

Axpo Iberia, the Axpo subsidiary for the Spanish and Portuguese market, has facilitated the financing and construction of a 25-MW solar plant in the Portuguese city of Évora. The venture is unique: This is the first project to be realised on the Iberian Peninsula thanks to a power procurement agreement with a 10-year term and absolutely no public subsidies. With this undertaking, Axpo is laying the foundation for the development of similar construction projects in upcoming years, and developing a new business field.

Two new members appointed to the Axpo Board of Directors

On 19 January 2018, the Annual General Meeting appointed Stefan Kessler (Jenins/GR) and Stephan Kuhn (Schaffhausen) to the Axpo Holding AG Board of Directors for the term from 2017 to 2019. The appointment of these two new members marks the completion of restructuring of the Board of Directors that began in 2017.

Two new members proposed to the Axpo Holding AG Board of Directors

Stefan Kessler (Jenins/GR) and Stephan Kuhn (Schaffhausen) have been proposed as members of the Axpo Holding AG Board of Directors for a term from 2017 to 2019. The Board of Directors will propose the two members to the General Meeting on 19 January 2018. With these two personnel changes, the restructuring of the Board of Directors that commenced in 2017 will be completed.

Sustained profits from Europe, but further losses in electricity production in Switzerland

Axpo ended the 2016/17 financial year with a pleasing result for the period of CHF 310 million (previous year: CHF -1,252 million). In an environment that remains dominated by low electricity prices and influences that distort the market, the result was boosted by systematic implementation of its strategy, which is geared towards strengthening cash flow and increasing value. As income prospects from electricity sales from 2020 onwards have improved, no substantial impairments were required in contrast to previous years.

Axpo expands its private customer business with Coop Italia

Axpo is expanding its private customer business in Italy: In order to continue developing its customer base, Axpo Italia SpA has acquired a 5-per cent minority share in Alleanza 3.0 Luce e Gas SpA. This company is part of the largest cooperative belonging to the leading Italian retail chain Coop (Cooperativa di Consumatori), and is active in power and gas trading for private customers.

Electricity from the neighbourhood: Axpo launches a blockchain model for renewable energies

Simply order eco-friendly electricity from the neighbour's photovoltaic system, or from the local farmer's biogas plant, or from the local windmill operator: Together with the Wupper-taler Stadtwerke (WSW) in Germany, Axpo is putting this vision into practice under the name Elblox. With the help of blockchain technology, WSW customers can put together their own power mix digitally. In turn, regional operators of solar, wind, hydro and biomass plants have the opportunity to sell their produced electricity directly to end customers.

In contrast to previous years, no substantial impairments are expected so that Axpo Holding AG anticipates a positive annual result for the financial year 2016/17 (ending on 30 September 2017). Thanks to operative progress and improved income prospects as of 2020, Axpo will be able to finance the new strategic direction of the Group that was announced in 2016 with its own resources. The combination of growth fields in one unit "Axpo Solutions" will be pursued in such a way as to make entering the capital market possible if the market environment changes within a year. In doing so, Axpo is ensuring its strategic flexibility in order to quickly respond to new market situations.

Axpo expands its international presence with new offices in Lisbon, Madrid and Amsterdam

Axpo is consistently expanding its business activities in the area of tailored customer solutions. Having recently opened its own subsidiary in Lisbon in order to boost revenues from the Portuguese market, the company has also now expanded its presence in Madrid and Amsterdam.

Axpo subsidiary Volkswind puts new windfarm into operation in France

Volkswind GmbH, a 100-per cent subsidiary of Axpo, has put the new Massay 2 wind farm into operation in France. The wind farm includes 7 turbines with an output of 3.3 MW each, and is located 100 kilometres south of Orleans. The rotor blades on the individual wind turbines reach a height of 175 metres. Massay 2 is one of the highest wind power plants in France and generates power for some 20,000 people.

Kraftwerke Linth-Limmern AG: Successful financial year 2015/16 with significantly higher power production

Today, the General Meeting of Kraftwerke Linth-Limmern AG (KLL) approved the annual financial statement 2015/16 and the payment of a 1.5% dividend totalling CHF 5.25 million from the share capital of CHF 350 million. The successful financial year is largely attributed to significantly higher power production. In addition, important milestones were achieved in the construction of the Limmern pumped storage plant.

Axpo downsizes Board of Directors and appoints four new members

Axpo Holding AG has restructured its Board of Directors. On 10 March 2017, the Annual General Meeting approved the reduction of the body from 13 to 9 members. Dorothée Deuring, Dr. Peter Kreuzberg, Roger Wüthrich-Hasenböhler and Dr. Hanspeter Fässler (term from 2017 to 2019) were newly appointed to the Board of Directors.

Four new members proposed to the Board of Directors of Axpo Holding AG

Changes on the Board of Directors of Axpo Holding AG: The new members proposed for the term from 2016 to 2019 are Dorothée Deuring, Dr. Hanspeter Fässler, Dr. Peter Kreuzberg and Roger Wüthrich-Hasenböhler. The Board of Directors will put forward this request at the Annual General Meeting on 10 March 2017.

Axpo named best power trader in Europe

Axpo continues to rank among the worldwide best companies in energy trading: In the most recent survey by the trade magazines „Risk“ and „Energy Risk“ the company was voted the number 1 in numerous categories. As in the previous year, Axpo is the leader among power trading companies in Europe and individual countries, and achieved top ranks in gas trading. Once again, the outstanding performance demonstrates that the consistent expansion of international presence and business activities that began years ago is bearing fruit.

Axpo combining growth areas of renewable energies and customer business – new investors to be brought on board

Axpo is taking another step towards opening up new areas of business and becoming less dependent on the power price. Under the working name “Axpo Solutions”, the company is to combine its expertise in two growth areas – renewable energies and its international customer business – with grid and asset marketing in a single new unit. The capital underpinning this growth strategy will come not just from Axpo itself but, from 2019, also from new investors, who will take an as-yet unspecified minority stake in the new company Axpo Solutions. Together with its new funders, therefore, Axpo intends to fully exploit the opportunities presented by renewable energies and its international customer business.

Through its Scandinavian subsidiary Axpo Nordic AS, Axpo has concluded a long-term power purchase agreement for an onshore wind farm in Egersund, Norway. The agreement was signed with LUXCARA, a leading asset manager for renewable energy investments. In doing so, Axpo is underpinning its competence as one of the largest marketers of renewable energies in Europe.

Valuation established for transmission network installations

In connection with the transfer of the transmission network from the former owners to Swissgrid, ElCom has ruled on the method for establishing the value of the transmission network installations. Applying this method, Axpo will receive additional compensation of CHF 160 million for the transfer of its transmission network to Swissgrid. The financial transaction will take place in financial year 2016/17.

Axpo subsidiary Volkswind successfully concludes the sale of four newly developed wind farms

Volkswind GmbH, an Axpo subsidiary, has fulfilled all the conditions required for the conclusion of the sale of four newly developed wind farms. As of 30 September 2016, the plants in Western France will become the property of Chorus Clean Energy AG, a company specialising in the operation of solar and wind energy plants. This is the first time Axpo has sold newly developed wind power plants out of the portfolio of its subsidiary Volkswind, which was taken over by Axpo last year. The sale is in line with Axpo’s strategy to realise higher value added from the business with the construction, development and sale of wind power plants.

The year-on-year contraction of around 30% in European wholesale prices for electricity is a clear sign that the price slump will last longer than expected a year ago. Axpo therefore has to adjust the value of its production plants and make provisions for energy supply contracts again in the 2015/16 financial year. In addition, the most recent impairment test has shown that the new Limmern pumped-storage power plant has to be impaired by CHF 540 million. As these adjustments are expected to burden the Group's operating profit (EBIT) by some CHF 1.4 billion, the Group is likely to post a negative net result again for the year.

Festive inauguration of the Muttsee dam

Axpo is one important step further along with the Limmern pumped storage plant (PSP). Today, 9 September 2016, the newly constructed Muttsee dam was christened in a festive ceremony. With its 1054 metres, the dam is the longest in Switzerland. Located at approximately 2500 metres above sea level, it is the highest dam in Europe. The new Muttsee dam is a key element of the new Limmern pumped storage plant. Together with the Canton of Glarus, Axpo has invested CHF 2.1 million in this highly flexible plant. With a pumping and turbine capacity of 1000 MW, the Limmern PSP will make an important contribution to the security of supply in Switzerland.

Proof of safety requirements for the gravity dam of the new Limmern pumped storage plant on the Muttenalp have been fulfilled. Over a period of 60 days, Axpo filled the Muttsee reservoir to the maximum water of level of 2474 metres above sea level for the first time in order to test dam performance. Testing results fulfil all the requirements: The dam holds what it promises – in concrete terms, 23 million m3 of water. The multi-phase initial filling programme took place under close cooperation with the Swiss Federal Office of Energy (SFOE), which subsequently confirmed the safety of the plant. The Limmern pumped storage plant will make an important contribution to supply security thanks to its high pumping capacity, turbines with a performance of 1000 megawatts each, and its flexible scope of utilisation.

Axpo acquires Lonza as a major gas customer

Axpo has acquired Lonza as a major customer. Based on the contract, Axpo will handle the services necessary for the natural gas supply to Lonza’s production facilities in Visp. The contract begins on 1 January 2017 for a period of 3 years.

The Axpo subsidiary Volkswind sells four newly developed wind farms to German investor

Volkswind GmbH, an Axpo subsidiary, has concluded an agreement with Chorus Clean Energy AG for the sale of a wind farm portfolio in Western France. Chorus Clean Energy AG is special-ised in the operation of solar and wind energy plants. With the agreed upon sale of the four wind farms with a total installed capacity of 62.2 Megawatt (MW) to the German company, Axpo is consistently implementing its wind energy strategy. Axpo intends to realise higher added value from the renewable energies business.

The Axpo Group posted a profit of CHF 350 million for the first half of 2015/16, an encouraging result in the current difficult market environment in Switzerland and Europe. Although the company is continuing to battle with low wholesale prices in Europe, there are also grounds for optimism. The transformation of the Axpo Group is progressing well, and the expansion of renewable energies and the European trading business is already making a substantial contribution to the Group's results. The Axpo subsidiary Centralschweizerische Kraftwerke AG (CKW) is also doing well.

Large volume order for Axpo in Germany

Germany’s largest aluminium smelter „Rheinwerk“ in Neuss will procure additional electricity volumes from Axpo: Supplementary to the power contract entered into last year, Axpo will supply the subsidiary of Norwegian Norsk Hydro ASA with 1.3 TWh of electricity annually for the time period from 2021 to 2025, representing a financial volume in the nine-figure range for Axpo.

Construction inauguration ceremony for the Trans Adriatic Pipeline

A major milestone for the Trans Adriatic Pipeline (TAP): The official construction inauguration ceremony for the pipeline took place in the Greek port of Thessaloniki with high-ranking political figures from various European countries in attendance. By the year 2020, natural gas from the Shah Deniz phase II gas field, located southeast of Azerbaijan’s capital Baku, will flow through TAP to Southern Italy and on to Central Europe. Axpo is the initiator of this geo-strategic, economically important project and holds an interest of 5% in TAP.

Thomas Sieber as new Chairman

A change in leadership at Axpo Holding AG: Thomas Sieber (53) from the Canton of Glarus was appointed the new Chairman of the Board of Directors at the Annual General Meeting on 11 March 2016. He succeeds Robert Lombardini (66), who is retiring after twelve years. Also newly appointed to the Board is Köbi Frei, Government Councillor of the Canton of Appenzell Ausserrhoden.

Awarded again: Axpo continues to be the worldwide number 1 in power trading

For the second time in a row, market players and customers voted Axpo as the number 1 in the category “Overall Dealers Power” and hence as the best power trader worldwide. The fact that this distinction comes from its clients and other market players is both an acknowledgement and vote of confidence for Axpo. In the ranking for the worldwide best gas trading company, Axpo landed in third place. Axpo also ranks in top positions in numerous European markets in the areas of power and gas trading, and was able to improve the excellent results of the previous year.

Axpo Holding AG: Carmen Walker Späh appointed to the Board of Directors

The extraordinary Axpo Holding AG General Meeting of 22 January 2016 appointed Carmen Walker Späh to the Board of Directors as a representative of the Canton of Zurich. She replaces former Government Councillor Martin Graf.

First machine group at the Limmern pumped-storage power plant successfully synchronised with the grid for the first time

Today – for the first time – the first machine group at the Limmern pumped-storage power plant in the Glarus Alps has been successfully synchronised with the electricity grid. This represents a crucial milestone for the construction project. The Limmern pumped-storage power plant's total pumping and total turbine capacity are each rated at 1,000 MW. This will increase the output of the Linth-Limmern power plants from its current level of 480 MW to 1,480 MW. Axpo remains on schedule with 'Linthal 2015 which is currently the biggest construction project within the Swiss energy sector. The highly flexible plant will make an important contribution towards grid stability – and therefore security of supply – for both Switzerland and Europe.

Despite the difficult market environment, the Group's operating performance before special factors was encouraging in the 2014/15 financial year, due in part to the strategic measures introduced in 2014. However, the Swiss production business is still severely affected by the persistent low wholesale prices for electricity. Furthermore, the low euro exchange rate is causing problems for Axpo. This development necessitated renewed write-downs on the power plant fleet and on energy supply contracts, resulting in a heavy loss for the period.

Axpo U.S. starts its activities by appointing Jeremy Wodakow as Managing Director

Axpo will start its business activities in theUnited States in 2016. Effective January 1st 2016, Jeremy Wodakow, the previous Head of North America Gas & Power Origination and Structuring at Noble Americas based in Stamford CT, will take on the role of the Managing Director of Axpo U.S.. This appointment marks the beginning of the business activities of Axpo in the United States. So far, Axpo has been serving 35 European markets. By entering the U.S. market, the company aims at generating additional profits in the energy trading business.

Axpo has received final approval from the European authorities to purchase Volkswind GmbH and will thus become a key player in the construction and development of wind power plants in Germany and France.

Board of Directors nominates Thomas Sieber as new Chairman

The Glarner Thomas Sieber (53), Chairman of Salt Mobile SA, is expected to be appointed as the new Chairman of the Board of Axpo Holding AG at the Annual General Meeting on 11 March 2016. The Axpo Holding AG Board of Directors decided unanimously to put this motion before the General Annual Meeting. Sieber will succeed Robert Lombardini (66), who is retiring and has been Chairman since 2004.

Weak euro and low electricity prices force Axpo to make further value adjustments

The market environment remains extremely challenging for energy companies: in addition to the persistently low wholesale prices for electricity on the European market, the currency effect is now also generating considerable financial pressure. For this reason, Axpo must once again make impairments on the value of its power plants and energy supply contracts. Meanwhile, business performance in the current financial year is positive.

Swiss offshore wind farm Global Tech I in the North Sea now on grid

The offshore wind farm Global Tech I (GTI), located in the North Sea 140 kilometres off the German coastline, officially went into operation today. With a capacity of 400 megawatts, it is the largest offshore wind farm to go on grid this year in Germany. Axpo has a 24.1% share in this wind farm, making GTI the first offshore farm with substantial Swiss participation. Axpo will market the energy produced off the North Sea coast directly through its subsidiary in Germany in proportion with its own holdings.

Axpo takes over Volkswind – an important pillar for the expansion of renewable energies

On 15 July 2015, Axpo signed the sales contract for the acquisition of Volkswind GmbH, a leading wind farm developer and operator in Germany and France. With this acquisition, Axpo is strengthening its position in the area of renewable energies and entering into the market for construction and development of wind power plants in Germany and France.

Despite pleasing progress in implementing its strategy to optimise its core business, reduce costs and open up new sources of revenue, Axpo Holding AG reports a decline in key below-the-line figures for the first half of the 2014/2015 financial year. Persistently low wholesale electricity prices are the main reason for this.

Annual General Meeting decides not to distribute a dividend for the 2013/14 financial year

The Annual General Meeting of Axpo Holding AG on 13 March 2015 approved the 2013/14 annual report and annual financial statements. The resolution tabled by the Board of Directors on not distributing a dividend in view of the negative business results and the still very challenging market environment was approved. Robert Marti was elected as a new member of the Board of Directors.

Axpo acclaimed as the leading worldwide power trader

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Axpo is Switzerland's largest producer of renewable energy and an international leader in energy trading and the marketing of solar and wind power. 5000 employees combine experience and expertise with a passion for innovation. Axpo develops innovative energy solutions for its customers based on state-of-the-art technologies in over 30 countries in Europe and the USA. We open up perspectives and generate new impulses for a life full of energy.